32 companies’ mineral exploration and production license has been revoked by Ministry of Mines, Petroleum and Natural Gas (MMPNG) of Ethiopia. The licenses are revoked for lack of financial capacity and for failing to fulfill duties.

This April Ethiopian Parliament relaxed restrictions on foreign financial institutions. They made amendments to the stringent rules as it paved way for the nation to join the African Trade Insurance (ATI) after the signing of a treaty with the continental body. Experts say Ethiopia represents a major opportunity for Kenyan banks keen on regional expansion primarily due to several factors. The country has a large addressable market, with a population of 96 million. Despite majority being low income, on going economic transformation of the country largely driven by State-led investment in infrastructure and industrialization has spread the benefits of economic growth to the majority of the population, making them more bankable.

On April 22, 2016, Standard & Poor’s Ratings Services affirmed its 'B/B' long-and short-term foreign and local currency sovereign credit ratings on the Federal Democratic Republic of Ethiopia. The outlook is stable.

Standard Bank Group has expanded its already extensive East African footprint with the official opening of a representative office in Ethiopia. This means that Standard Bank, which is Africa’s largest bank by assets, has a continent-wide footprint in 20 African countries.